Police Seize 220M Baht in Luxury Cars, Gold, and More from 'The Icon' Group

[Dan O]

34 minutes ago, john smith said:

Is this the group that runs Icon Siam in Bangkok?

No and Iconsiam made a public statement yesterday that they are not in any way connected.

[lordgrinz]

3 hours ago, madmac1 said:

You have to admire the audacity of these people. They made it so clear right from the start what they were doing.

They called the company "iCon"!!!

As in I con people!!!

And has 555 registration on one of his car's just to rub it in.

 

I can't believe that license plate, "THE CON" on the bottom and plate number "555"!

 

This guy deserves a Gold medal for audacity, unreal!

 

 

 

[anchadian]

26 minutes ago, Dan O said:

Did they go after Boss Paul's watch collection?  As for the bitcoin assets and other finacials, maybe they should have siezed everything before they published that they were going after assets. 

I understand the watch collection was kindly donated to Prawit.

[lordgrinz]

2 minutes ago, anchadian said:

I understand the watch collection was kindly donated to Prawit.

 

Prawit could croak any minute, I'm hoping he'll loan me his watch collection beforehand.

[node]

This is not the first, nor will it be the last scam that these people attempt. The jails here are full of scammers.

 

Most believe everything they see on TV soaps, and covert these things. The fancy cars, the nice dinning rooms, the living rooms filled with gold looking items, the watches, the list goes on and on. Hence I stated, sure will not be the last. 

 

They lack proper education, and those that have it, sadly, majority scam those without, simply a way of life here. Education is the key, and most here do not believe this.

[off road pat]

6 hours ago, NaaKap said:

Interested in the business model too.... Asking for a friend 😎 

Just a Pyramid scheme, a classic !

[off road pat]

2 hours ago, node said:

This is not the first, nor will it be the last scam that these people attempt. The jails here are full of scammers.

 

Most believe everything they see on TV soaps, and covert these things. The fancy cars, the nice dinning rooms, the living rooms filled with gold looking items, the watches, the list goes on and on. Hence I stated, sure will not be the last. 

 

They lack proper education, and those that have it, sadly, majority scam those without, simply a way of life here. Education is the key, and most here do not believe this.

Not only un education, educated people were also conned in this !

[oustaristocrats]

5 hours ago, Bday Prang said:

            They don't get it because they don't want to get it.  The whole nation is full of greedy individuals who's love of money and idolisation of those who are perceived to have it, is rivalled only by their worship of celebrities. 

             The country is  full of gullible weak minded fools, its a scammers paradise.

             And don't forget how these pyramid / ponzi schemes work,  the majority of those crying that they have been scammed out of money, would have  only gone on to scam others below them in the pyramid. These schemes can be very lucrative for those at the top , and are always a complete disaster for all the others who join

later

              There was never any money to be made selling vitamins or any of that rubbish, the real money was made by getting other victims to sign up 

               Bearing in mind the money these scammers have made, the lifestyles they openly lead, and the famous celebrities involved  I 'm not quite sure how the media, police , and even the victims actually feel about all this.  Is it considered a positive to have been scammed by people who are rich and (now) famous?

Nothing would surprise me anymore 

 

 

Ahh, thanks a lot. This answers my question about what the Icon Group was doing. As I suspected, again these influences selling stuff at social medium platforms. 

This is the root cause of so many fraude and scam. Just cut them off all media, ban these online advertisements, chase them, ask them immediately how they financed the luxury assets, not wait till the 200 million Baht barrier is crossed. 

 

 

 

[ukrules]

8 hours ago, Iron Tongue said:

Do you not know how scammers & fraudsters behave?

 

No, I have no experience with them.

[Bday Prang]

2 hours ago, oustaristocrats said:

 

Ahh, thanks a lot. This answers my question about what the Icon Group was doing. As I suspected, again these influences selling stuff at social medium platforms. 

This is the root cause of so many fraude and scam. Just cut them off all media, ban these online advertisements, chase them, ask them immediately how they financed the luxury assets, not wait till the 200 million Baht barrier is crossed. 

 

 

 

I'm no expert, but I don't think selling vitamins ,has provided them with 23 luxury sports cars, as far as I know the big money is generated by convincing others to sign up to the scheme.

[anchadian]

Your private hospital suite is waiting:

 

In short, eleven men were incarcerated at Bangkok Remand Prison while six women were lodged at the Central Women’s Correctional Institution nearby. Afterwards, lawyers for the defendants reported their clients were suffering from stress.

At the same time, prison officials at Bangkok Remand Prison revealed that two of the Icon bosses had chronic underlying conditions. One suffered from a kidney problem, while the other had leukaemia.

https://www.thaiexaminer.com/thai-news-foreigners/2024/10/18/8-billion-baht-wired-into-cryptocurrency-funs-just-an-hour-before-icon-arrests-by-police-on-wednesday/

[fondue zoo]

it's in their name   ICon

 

[Bday Prang]

26 minutes ago, anchadian said:

At the same time, prison officials at Bangkok Remand Prison revealed that two of the Icon bosses had chronic underlying conditions. One suffered from a kidney problem, while the other had leukaemia.

No surprises there then, expect others to follow suit

[brfsa2]

> with suspects allegedly converting cash into digital currency to avoid detection.

 

I know, i keep repeating myself...  Bitcoin today is the only safe heaven for criminals to hide their illegal money.

and it will be for a long while... count on that.

 

I am so sure, the icon group criminals already have hundreds of BTC in their secret wallets that the police will never find, ever. Just waiting for when they come out of jail a year later or a few months later, as likely they will not spend more than 12 months in jail. the lower ranks in the gang might spend longer in jail, but when they come out 5 years later, their bitcoins assets will already have double or tripled in value, if they have 10BTC today value at 22M THB ,then 10 years later that will easily be 200M.

If they were smart from beginning, they already have most of their money in BTC in hardware crypto wallets (like the Ledger Nano)

 

And who in here believe they only have 200M Baht? if they could afford 35M Baht cars, and just one, they surely have at least a few Billion Baht hidden abroad and in Crypto., easily 5B Baht....

[Liverpool Lou]

14 hours ago, oustaristocrats said:

 

 

"converted cash to digital currencies before the crackdown to complicate tracing efforts"...

 

But how did they get the 220 million Baht in the first place, before being able to convert it ?  Or in other words, what was the business model of the Icon Group ? 

I don't read anything about this, was it legally earned, or not ?  By what kind of activity ?

 

It has been very well reported all over the press, including the English-language press.

Edited October 18 by Liverpool Lou

[Liverpool Lou]

12 hours ago, mfd101 said:

14 hours ago, oustaristocrats said:

But how did they get the 220 million Baht in the first place, before being able to convert it ?  Or in other words, what was the business model of the Icon Group ? 

I don't read anything about this, was it legally earned, or not ?  By what kind of activity ?

Yes. Who or what is 'The Icon'?

Amazing how many people don't bother to read (in the papers) about what is going on here!

[Liverpool Lou]

9 hours ago, john smith said:

Is this the group that runs Icon Siam in Bangkok?

No.  The company referred to in the OP is The iCon Group, not ICONSIAM, owned by Siam Piwat.         

[Foexie]

who buys a convertible in Thailand???

[Iron Tongue]

18 hours ago, ukrules said:

 

No, I have no experience with them.

And yet you judge.

[MarkBR]

On 10/18/2024 at 10:24 AM, Dan O said:

Did they go after Boss Paul's watch collection?  As for the bitcoin assets and other finacials, maybe they should have siezed everything before they published that they were going after assets. 

Is there not a certain politician who knows quite a lot about watches?

[BTB1977]

I saw a Bentley on a tow truck a few weeks ago in Tak. Asked if I could take a photo from the tow truck driver.  Hi reaction was like NO F%&#IN way. Seem to be protecting it way too much. 

[jvs]

Can't wait for them to go after "Be fit"

Or maybe they are too powerful and above all laws.